And before you say it is similar to the Biden tuition payments, this is for ALL children.
The Origin of Trump Accounts
First, the origin story.
The idea of opening investment accounts for young Americans first arose in the form of “Baby Bonds” decades ago. But the idea was flawed because the accounts could be invested only in US government bonds.
President Trump recognized the shortcomings of this idea while also grasping its promise. So he set out to perfect it.
Working with some of the most talented businessmen in the country, including Brad Gerstner and Michael Dell, he pioneered Trump Accounts—investment accounts that newborn Americans can receive on Day 1. Trump Accounts allow for private ownership, multiple funding pathways, and direct investment across a broad swath of the American economy.
Where President Trump’s predecessors created debt and dependency, President Trump creates assets and expands ownership. This is a signature characteristic of his presidency.
So, what do you think? What’s not to like?
@AverageJoe1
Yes’he’ is not doing it, congress has to do it.
Just clearing the airy here. But his idea. Good man.
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@AverageJoe1 saidGood man
@AverageJoe1
Yes’he’ is not doing it, congress has to do it.
Just clearing the airy here. But his idea. Good man.
5 time draft dodging, child molesting, MURDERER, 😆 😆 Maybe in hell where you're headed but not in this life or on this earth.
Funny how YOU and him think it's great giving away others people money. That's our Tax dollars, not for him to bribe his base of pos.
@AverageJoe1 saidSo you know how I hate to rain on any of your parade's, but here are some criticisms.
And before you say it is similar to the Biden tuition payments, this is for ALL children.
So, what do you think? What’s not to like?
Critics point out the accounts do little to help children in their early years, when they’re most vulnerable and most likely to be in poverty. The accounts, they say, also fail to offset cuts the Trump administration and congressional Republicans have made to other programs that benefit young people and their families, including food assistance and Medicaid. Republicans created the accounts in the same Trump tax bill that reduced spending for some of those programs.
And even with the contribution from the government, critics say the Trump Accounts will widen the wealth gap. Affluent families that can afford to make the maximum pretax contribution to the accounts will realize the greatest benefits. Poor families who can’t afford to set aside money for the accounts will benefit the least. Assuming a 7% return, the $1,000 in seed money would grow to roughly $3,570 over 18 years.
$3,570 after 18 yrs is nothing to sneeze at for sure, but the cap on what parents can pretax contribute is a problem.
@AverageJoe1
I thought we were all getting at least $2,000 each in tariff profits, even if that all gets billed to the American taxpayers with interest.
@kmax87 saidOkay so I ran a spreadsheet and if the parent adds $5000 pre tax dollars to the account balance each year, then that $1000 could grow to $244, 000 plus or minus a few bob, which is nothing to sneeze at, when their kid turns 18. This is at 7%
So you know how I hate to rain on any of your parade's, but here are some criticisms.
At 3% which is the long run return in the market its more like $150,000.
A poor person however may not be able to consistently add $5000 every year. Say on average they can only contribute $2000 each year and assuming an average interest rate between 3% and 7% (5% ) the return after 18 years would be a much more modest $78,000. On the face of it though, still better than a poke in the eye with a blunt stick.
The one critical factor though is management fees. Management fees will eat out a nice little sum for whoever is managing this Trump Account Future Fund.
I would not be the one to suggest that this program is designed to milk what little the poor have and fleece them mercilessly of their hard earned scrimping and saving. But they will not be able to touch any of this money till they are 18 and hopefully in 18years time their accounts will still be solvent.
@AverageJoe1 saidSounds ridiculous.
And before you say it is similar to the Biden tuition payments, this is for ALL children.
The Origin of Trump Accounts
First, the origin story.
The idea of opening investment accounts for young Americans first arose in the form of “Baby Bonds” decades ago. But the idea was flawed because the accounts could be invested only in US government bonds.
President ...[text shortened]... This is a signature characteristic of his presidency.
So, what do you think? What’s not to like?
Sounds like more national debt, for nothing, to me.
I thought you were against that.
I'm sure Trump has figured a way to personally profit from this.
But I wish he'd stop saying "on Day 1". He does nothing "on Day 1".
@kmax87 saidExactly.
Okay so I ran a spreadsheet and if the parent adds $5000 pre tax dollars to the account balance each year, then that $1000 could grow to $244, 000 plus or minus a few bob, which is nothing to sneeze at, when their kid turns 18. This is at 7%
At 3% which is the long run return in the market its more like $150,000.
A poor person however may not be able to consistently add ...[text shortened]... y of this money till they are 18 and hopefully in 18years time their accounts will still be solvent.
This is another way for the rich to get richer.
And most rich people already have a better way to make this kind of money.
@kmax87 saidSo I thought what if the interest on the money was compounded daily, instead of yearly as I calculated.
$3,570 after 18 yrs is nothing to sneeze at for sure, but the cap on what parents can pretax contribute is a problem.
Well $1000 seed money no further deposits will yield
$3,380 after 18 yrs, if the interest compounded yearly.
If the interest compounded daily that $1000 seed money would yield $3, 525 after 18 yrs. Not much difference over 18 yrs. I could apply compounding daily to the spreadsheet numbers but it's not going to make a whole deal of difference and it means booting up the desktop again....
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@KingDavid403 saidA NO vote.!!
Good man
5 time draft dodging, child molesting, MURDERER, 😆 😆 Maybe in hell where you're headed but not in this life or on this earth.
Funny how YOU and him think it's great giving away others people money. That's our Tax dollars, not for him to bribe his base of pos.
Hey give it to the children instead of illegals or.....citizens who have been using it for years who are not entitled to it.
@kmax87 saidGreat post, I knew you had it in you.
Okay so I ran a spreadsheet and if the parent adds $5000 pre tax dollars to the account balance each year, then that $1000 could grow to $244, 000 plus or minus a few bob, which is nothing to sneeze at, when their kid turns 18. This is at 7%
At 3% which is the long run return in the market its more like $150,000.
A poor person however may not be able to consistently add ...[text shortened]... y of this money till they are 18 and hopefully in 18years time their accounts will still be solvent.
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@AverageJoe1 saidHey give it to the children instead of illegals or.....citizens
A NO vote.!!
Hey give it to the children instead of illegals or.....citizens who have been using it for years who are not entitled to it.
I don't want my tax dollars going to children of worthless to God murderer trumptards.
Please tell us how these new-born children earned or are entitled to this money, smaller than average joe boy murderer?
@KingDavid403 saidI can, but I asked first, for you to tell us how college graduates we’re entitled to have MY !! (I get so angry) tax dollars pay their debts.
Hey give it to the children instead of illegals or.....citizens
I don't want my tax dollars going to children of worthless to God murderer trumptards.
Please tell us how these new-born children earned or are entitled to this money, smaller than average joe boy murderer?
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@AverageJoe1 saidBecause they are entitled to it and they earned it as US citizens. I don't mind my tax dollars helping educate Americans so they don't end up like murdering lying pos fools as you. 🙂
I can, but I asked first, for you to tell us how college graduates we’re entitled to have MY !! (I get so angry) tax dollars pay their debts.
(I get so angry)
Good! 🙂 I don't want my tax dollars going to some trumptarded baby who has NEVER worked a day in their lives.